Analysis for May 19th, 2015
Most likely, Euro has finished expanded flat inside wave (2) of [C] and right now is forming a large descending impulse inside a long wave (3) of [C].
EUR USD, “Euro vs US Dollar”
Wave [v] of C of (2) has taken the form of diagonal triangle. Right now, the pair is forming wave [i] of 1 of (2) of a large descending impulse.
GBP USD, “Great Britain Pound vs US Dollar”Most likely, Pound hasn’t finished expanded flat inside wave (2) of  yet. In the nearest future, the market is expected to reach a new local high.
The situation is quite unclear – most likely, the pair is being corrected inside wave (iv) of [v] of C, after which the price may reach a new local high.
USD JPY, “US Dollar vs Japanese Yen”Yen continues forming horizontal triangle inside wave (4) of . Probably, wave E of (4) of this pattern is also taking the form of horizontal triangle.
Most likely, the pair has finished wave [d] of E of (4), which may be followed by a descending zigzag inside wave [e] of E of (4). After that, the market may continue growing inside wave (5) of .
USD CAD, “US Dollar vs Canadian Dollar”The price continues forming an ascending impulse inside wave (i) of [v] of 3, which may be followed by a short-term correction inside wave (ii) of [v] of 3.
The fast ascending movement made by the price yesterday has confirmed the scenario, which implies that the pair is forming an ascending impulse inside wave (i) of [v] of 3. In the future, the market is expected to continue growing.
RoboForex Analytical Department
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